GRANADA INVESTMENT AND FINANCE PRIVATE LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 7(1)(1), MUMBAI
What did the Tribunal hold?
The Assessee's appeal was dismissed as withdrawn with liberty granted to revive the same if the settlement application under Vivad Se Vishwaas Scheme does not result in dispute settlement. The Assessee had filed an e-filing acknowledgment for the Vivad Se Vishwaas Scheme.
What were the facts?
The Assessee preferred an appeal against the order dated 07/08/2024 passed by the NFAC. The appeal was against an Assessment Order dated 04/02/2015 for AY 2012-2013. The Assessee had opted for settlement under the Vivad Se Vishwaas Scheme, 2024.
What were the issues?
Whether the appeal can be dismissed as withdrawn due to opting for the Vivad Se Vishwaas Scheme, with liberty to revive.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “G” BENCH, MUMBAI
IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Granada Investment and Finance Private Limited 3rd Floor, Industry Manor, Near Century Bazar, Prabhadevi, Mumbai – 400025, Maharashtra. [PAN:AACCM0066F] …………. Appellant The Deputy Commissioner of Income Vs Tax, Circle – 7(1)(1), Mumbai Aayakar Bhavan, M. K. Road, Mumbai – 400020.Maharashtra. …………. Respondent Appearance For the Appellant/Assessee : Shri Ritesh Jain For the Respondent/Department : Shri Pushkaraj Bhangepatil Date Conclusion of hearing : 31.12.2024 Pronouncement of order : 31.12.2024 O R D E R [ Per Rahul Chaudhary, Judicial Member:
1. 1. The present appeal preferred by the Assessee is directed against the order, dated 07/08/2024, passed by the National Faceless Appeal Centre (NFAC), Delhi, [hereinafter referred to as ‘the CIT(A)’] under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] whereby the Ld. CIT(A) had partly allowed the appeal against the Assessment Order, dated 04/02/2015, passed under Section 143(3) of the Act for the Assessment Year 2012-2013.
2. When the appeal was taken up for hearing it was noted that the Appellant had placed on record copy of Form I DTVSV 2024 e-filed under the ‘The Direct Tax – Vivad Se Vishwaas Scheme’, 2024 on Assessment Year 2012-2013 19/12/2024 having e-filing Acknowledgment Number 760776310191224 and submitted that the Appellant has opted for settlement under the Vivad Se Vishwaas Scheme - 2024. In view of the aforesaid, the present appeal preferred by the Appellant is dismissed as withdrawn with liberty granted to the Appellant to revive the same in case the application filed by the Appellant does not result in settlement of dispute by way of filing miscellaneous application before the Tribunal within the period prescribed.
In terms of above the present appeal is dismissed as withdrawn.
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